The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62.09 - Other information technology and computer service activities
200 jobs Number of planned job losses
Announcement Date
16 November 2022
Employment effect (start)
16 November 2022
Foreseen end date
Description
Wayflyer, an Irish ecommerce funding platform, has announced an internal restructuring plan which will cut 200 jobs from it's global workforce. It is unclear which departments will be impacted, however, 70 job cuts will be in Dublin, Ireland, and 10 employees from operations in USA will be relocated to the headquarters in Ireland. The relevant Irish authorities have been notified and the consultation phase with impacted employees is expected to begin.
The company's CEO stated that Wayflyer had undertaken an aggressive expansion plan over the last 15 months and that it has become unsustainable. Regarding the transition for employees, The CEO has said 'We are providing transition and benefits packages with the goal of making the transition as supportive as possible for impacted teammates', however, further details have not been provided.
Eurofound (2022), Wayflyer, Internal restructuring in World, factsheet number 108210, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/108210.
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